tv Varney Company FOX Business December 12, 2013 9:20am-11:01am EST
♪ imus in the morning stuart: attentio attention taxp, here comes another bailout. good morning, everyone. next you the way things are going with obamacare, you will have to give more money to the health insurers. it will not be popular, it is written into the law. here it comes. technology the only game in town, three headlines for you. home depot take on amazon with same-day delivery. the iphone goes on preorder in china, early strong sales.
facebook goes in the s&p 500, so the tracking funds must buy the stock. they killed the most exciting play in baseball, i want to know what you think about that. "varney & company" is about to begin. ♪ ♪ ♪ [ tires screech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. get the most extensive charting wherever you are with the mobile trader app from td ameritrade. yep. got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex.
stuart: listen to this, a warning to congressional staffers, do not rely on the information provided by the obamacare website. you may not be enrolled for your new health plan. the same day they played up the success of the website fix, capitol hill officials received an urgent e-mail stating this, "please do not assume you are covered unless you have seen the confirmation letter from the disbursement office." clearly it is not ready for prime time. the complaints are getting louder of moves up into
microsoft. especially since they hold a meeting today. microsoft stocks went straight down, he cannot answer the questions so why waste your time? time is running, the other headlines today, jpmorgan agreeing to pay $2 billion fine related to bernie madoff. the accusation is the bank helped launder 76,000,000,004 bernie madoff. member epa employee who lied about the cia agents to get hundred thousand dollars worth of time off and bonuses? turns out supervisors knew it as far back as 2010 including the current epa administrator. facebook instagram expected to announce a direct competitor for step chat today. allows you to send a picture, automatically deleted after being viewed.
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>> did out 16,000 and going to crash to 5800 or 6,000, gold will build to 1525 and crashed down to 70740, the isn't he will go to 1740 and go to 5 to 600. stuart: a crash is coming to this program a couple minutes from now. let's bring in scott kennedy from chicago. take the varney challenge, tell us where the market is going without mentioning the fed at all. >> i won't mention the fed but i can mention paper. what the market has got to get
done is we might now finally get an announcement that they may have guidance on paper which is interesting. that is something the market will get it head around, but ultimately we have had an unprecedented accommodations, no one can tell you what is going to happen. thome market and the fed, ultimately we are going to be supported because they keep their foot on the gas. i will not go through a paper anytime soon. they are in late for the party when it comes to tightening the party when it comes to cutting. just remember that. stuart: the dow opened lower down 5 points. a couple interesting news background items today. a big jump in first-time jobless claims. the market is discounting that has not real figures and a nice
jump in retail sales for november and opened 16 points down for the dow industrials. facebook added to the s&p 500. that is sending the stock up. where is it now? nicole: it has an up arrow of 3%. facebook at the close of trading will go into the s&p 500 and you know the portfolio manager has to buy facebook in order to exactly mimic the s&p 500 index. stuart: that is true of facebook today. next case, amazon. everything is about amazon lately. now home depot is going to spend $300 million to set up same-day delivery. both stocks, home depot and change the amazon up $1.93. even the shopping malls are reinventing themselves, nation
at large is that turning their properties and to many distribution centers for rapid delivery been response to amazon. shop, drop your packages of, keep shopping, get your stuff shipped home that day, no hassle. let's bring in the polygon founder, one of our cac watchers. am i right that amazon is moving everything? >> no question. what amazon has done right the last few years is all about distribution, all about insuring they can get to your house in a consistent timeline without worry. all these companies, struggling to get into their stores are trying to match amazon system. stuart: you can shop online with amazon indeed and i can do it. it is extremely easy. working on same day or very rapid delivery, everybody has to shift to accommodate that.
one more thing, paying cbs $700,000 for a show called under the dome, they are going to stream at for four days after it airs on cbs. content is king and amazon is in that business too. >> they are trying to go after netflix and make a better argument for people signing up for this amazon instant streaming. netflix has spent a ton of money making their own shows. amazon has done the same but now what they are doing is reaching out to existing shows that are popular saying we will make this exclusive partnership, people will come to amazon to watch these shows, cut your cable box off, they can watch this show. stuart: we cover amazon so thoroughly because they appear to be the preeminent technology company at this moment. >> look at google a few years back, slowly but surely google
stuck its fingers into every possible angle and amazon is doing that in areas no one really expected. no one would have guessed they would go to digital streaming. stuart: another one for you, yahoo! steadily climbing, that is the stock despite serious problems with its e-mail service what is this all about? >> it is an absolute mess. it has been buffeted for tweet 2 weeks, there's a missing e-mail. don: like healthcare.gov. >> people have been dumping yahoo! e-mail for years and this will kick the rest of them off of the market too. where they are getting this bum, a lot of it is psychosomatic to less certain extent. they are trying to make changes from it is no longer just about
the search engine. they are making content purchases and stuff like that but do i think this is a sign that yahoo! is on the rise long-term? i am wary of that. stuart: we will bear that in mind. another one in just a moment. let me go to lulu lemon. of flat forecast and the stock is way down. what is the problem? nicole: there are a lot of problems. they make a great stuff and i love their stuff. down 6% today. this is because they are giving a forecast that is weaker than expected and includes the holiday season. they had quality-control issues and issues getting the products into the store, and here's the third one. slow traffic, you need shoppers to buy this stock. stuart: they are all going on line. online wins this holiday season. will don a, a violent you to show me apple because it started to sell, take three quarters of
the iphone in shy of. >> stock is up 1/3% acting in to the largest mobile have the honor of. china mobil has seven fifty million customers so their estimates between twelve million, and thirty million, how many they are playing, lost a patent for control against apple. that is another piece of news. stuart: we called covered all the individual stocks. now harry dent joins us from camp the. we quoted you a moment ago saying 16,000 would hit on the dow by january and the market crashes in the next few years. we have hit 16 k, we got there, now what about the rest of your predictions? the crash. when is it coming? >> i think it will be late
january. we see signs we are in apparel bolick classic bubble, the last bubble went five years, this is 175%. i think it will be late january. the target looks closer to 17,000, 16,700 to 17,000. between january and march a major crash into 2015. each bubble has taken us to hire highs, and early 2014 each crash has taken lower lows because that is pumping up the economy with bubbles until they burst and once they start bursting the affluent people holding out sales stop spending and you get in real trouble. don: let me tie you down again. late january into february and march we will hit 17,000 on the dow so we keep going. >> yes. don: that is when we start to
believe. that is when we start to come down and come down rapidly, not just stocks. gold will come down as well. >> gold is more on the lag. interest rates will go up. gold will go up as the crisis starts to build and gold season ended debt crisis with the leveraging add that in 2008, gold will crash as well. gold will 1125, then it will go back to 1400 or so and crash. boldly eventually crashes, it will be 2008 all over again. when a death bubble bursts, created by the fed, everything goes down, high-quality bond and the u.s. dollar. stuart: we like that you give us a precise forecast and a timeline. we don't get that in many places but we get it from you in tampa, we appreciate it. ford motor co. reported the
meeting today without alan mulally. the board wants to pin him down on his future even though he won't be there. i want to ask you a question, not about technology. alan mulally, background in industrial america, boeing and ford. could he do the job of turning around a technology like microsoft? >> he would do a fine job. he is known for doing a good job, stabilizing the company in deep trouble a few years back. microsoft's problems are not the way they are organized. and in the x box side, windows 8, is he the guy, and technology problems.
stuart: a lot of speculation, it is done not as much as it was earlier but it is down on the possibility that alan mulally leaves. instagram holding an event in new york city today, unveiling a new feature, some say could be a snap chat killer, lost. take a picture, send it to somebody, disappears off their screen. now we have somebody coming out with a competitor. >> it will add features to their popular program. stuart: it disappears. my kids use it. you send pictures all over the place and it disappears. >> we are guessing. they haven't announced anything but the big rumor is they would allow this feature and it wouldn't be everything they up load. it is just this is going to be a solution photo, like opening a package.
stuart: who owns instagram? >> facebook. stuart: thanks very much. a new poll says the majority of people do not believe in the american dream anymore. the rich get richer if, the poor get poorer, president obama agrees with that. is all about income inequality. john stossel has a thing or two to say about that and he will. he is next. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... us, theilive webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade.
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according to john stossel is always under attack. he is right there. start with president obama. listen to this. john: >> the market will take care of everything they tell us. if we just cut more regulations and cut more taxes. here is the problem. it doesn't work. it has never worked. john: lemonade for sale, $0.50. >> if people want to work let them work. i was amazed that people cannot work hard but they can be lazy. stuart: lazy? look 64% save the u.s. no longer offers everyone an equal chance to get ahead. the end of the american dream. on stossel is with us. do you think capitalism increases in the quality? john: probably. capitalism means free markets. you are free to try to make as much as you can.
some people will get really rich. peter: when you don't have a problem with that. john: note. so what? i would rather have people getting really rich and the poor getting richer too. that is how it works when people are free. in socialism everybody stays poor. stuart: it confers limited power on people on the elite. john: a privileged get political privilege. stuart: can we in this day and age, is there free movement of and down the scale? john: yes. maybe there is less because government education system made for less income mobility. pew research shows most of the people, children 30 years later are not in the same income group and 10% of the people moved all the way from the bottom to the top or vice versa so there is still income mobility. and is part of fairness. i don't get this hatred of this
market like it is a terrible selfish thing because there is in the quality. stuart: there is a hangover from the crash of 2008. wall street, red, wall street, the banks, financial institutions got a very big black eye from that crash. they got the blame. the rich got the blame. with this income inequality, blamed the rich, we have to convince income inequality scale, that is the prevailing ethic of the day and it is. john: it is and you can make an argument those rich people don't need all that money. it would be more fair if you take some away and some of them aren't going to do anything good with it. even though playboy will invest some and the bank will do something. hard to explain to people. adam smith talked about the invisible hand. it is invisible. people can see how it helps us.
don: peter: when you like unfettered capitalism, unfettered markets is what you like. john: capitalism can mean crony capitalism and that is evil but unfettered the polk called it tyranny. it is not hear any. government--no matter how rich they get they can't use force. only government can use force. stuart: you will be on jon stewart for that attack on the polk. john: i was not aware. stuart: what time is the show? john: 9:00. you will see more clips you played earlier. stuart: we thank you very much. watch out taxpayers, there is another bailout coming. this is my opinion. it is about obamacare and the health insurers. >> no! stuart: yes. my take on that next. ♪
cups, could mean print less money. smart phones, a trivia game called quiz up, four million downloads in a month. here is one of the 100,000 questions you could answer from hundreds of categories. this is from the royalty category. george, earl of st. andrews has us on known as blank patrick. what is his first name? we will have the answer along with one of the guys behind this popular apps. no ads on it so how will they make money? hate to ruin your day but watch out, taxpayers, take cover, here comes another bailout. for the health insurers, the insurance companies. here is my take. it won't be called a bailout but that is what it is.
under section 1342, the affordable care act, insurance companies will be paid extra cash, taxpayer cash if they don't bring enough money from the obamacare exchanges. the beat they will be bailed out because of the ongoing failure of obamacare. the alarm bells started ringing yesterday at 9:00 eastern when the week enrollment numbers were released, 364,000 have selected the plan, no where near on track for insurers to bring the money they require. they rang more loudly at 10:00 eastern when kathleen sebelius refused to come clean on how many young people had select a plan. getting cash out of youngsters is key to the whole scheme was so what have we got? very few signing up, hardly any paid up and total secrecy on who is signing up. that we is the groundwork for the coming bailout.
bear in mind insurance companies are slated to receive $1,075,000,000,000 from the taxpayer to subsidize low-income people. now they will almost certainly get a lot more. now we know why insurers were students to the esteban obamacare. they were promised millions of new customers. if that didn't happen the taxpayer would bail them out. two final points. the bailout will occur next year, election year. do you think voters will be happy with that? senator marco rubio has proposed legislation to kill section 1342, he wants to kill any insurer bailout. good for you, senator. if you kill the bailout you help kill the patient protection and affordable care act. the taxpayer i can definitely a chair for that. i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron. the only underarm low t treatment that can resre t levels to rmal in about 2 weeks in most men.
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stuart: five years ago to the bernie madoff was arrested. we are dealing with the nest. big show coming up. the fastest growing game in -- how is he going to make money if it is free. the ceo of kiosk is here. he will revolutionize online shopping. intel's you jurist is here. what happens to shopping malls as amazon inc's them alive? do not ever crossed dan
henninger. he is here today and going after new york's attack on charter schools and we are joined by at texas. dog democrat. what does he say about the insurance company bailout? big show for you. ♪ stuart: technology the only game in town. 3d printing, those stocks have been on a tear. we have been telling you about it for a while. we even have a chess piece. arles was anchoring that day, printed during our show live on the air. it happened right here. take a look at this. accompany in barcelona called natural machines coming out with the device that can 3d print pizza, burgers and more and the big banks for the wall street journal have caught on. they are talking about those 3d
stocks charles payne has been pounding the table on for months. they caught up to you. charles: initiate dvd outperformed, we like it by target 90 from 68, we do too, target 85, a couple days later pacific crest likes it too. and deutsche bank, target 95. we initiated a buy. wall street finally here. stuart: when did you start? charles: the beginning of the year. on this particular stock, march 8, twenty-seventh, april fifth, june third and august twenty-six. subscribers are in stock now. stuart: a short victory lap. charles: q led packard getting
into the game too. stuart: in 3d printing. nothing to do with the stock. charles: wall street is on it and the industry saying -- stuart: good one. facebook joining the s&p and that is up. >> what happened is portfolio managers have to mimic the s&p 500 exactly. going into the s&p 500 to close trading on december 20th. gain of 4 person. the annual high is 6483. stuart: microsoft. more speculation about alan mulally going from fort to microsoft. what are the stocks doing? >> look at how they are doing. we watch microsoft on the move, it is down 1/2% at the moment but we continue to follow the alan mulally story.
there were other candidates but alan mulally was the front runner, a clear front runner. stuart: i don't know what he is going to do but hilton hotels goes public at $20 a share today. i don't think it is trading yet. >> there has been a big crowd, not open yet. a big crowd. stuart: we will not confuse paris hilton with hilton hotels, the stock. i have got to get this. quiz us, the latest trivia air when being held as the fastest growing iphone game in history. since it launched in november 7th it has been down loaded four million times. we have of the go johnson with us, the parent company, before we go on, here is the sample question we asked earlier.
george, earl of st. andrews has a son named blank baron down pattern? what is his first name? i know the answer, it is edward. please confirm that i am right. before we go to him, another question for you about soccer, from the air when, which tv pundit said i wouldn't say that david is the best winger in the premier league, there un none better. you are squinting. charles: the options on the screen. i have a 24% chance. stuart: what is the answer? stuart: sorry, mr. atkinson. you are one of the founders in charge of business development.
four million download in a few weeks. how do you make any money? >> it with anything like this the revenue is going to be determined by the users and by the success and user engagement. stuart: no advertisers on this thing. stuart: how do you do that? all of trivia games. i will be a user, found out about this thing this morning. how do you make money out of me? >> that depends on what the user engage and is going to be like. we do not want to destroy the user experience. the tricky part about this industry is the way you monetize is dependent on the success of the product. stuart: wait a second of. it is an apps.
press the right button, talking the right screen and i get an opponent played against me from anywhere in the world and we start playing. we ask each other trivia questions and the first to score so many points is my user experience, me playing the game. i don't see how you will make any money out of it. >> you will see. it is very much dependent on growth. the bigger the volume of users the less revenue from its users. the revenue marvel is dependent on the user base. charles: what you are trying to say is you are not sure how to make money without upsetting the user. >> you never know that in advance. impossible to know without looking at the user's history and how the user's attention will develop and the growth. stuart: you can charge people
money? >> we hope not to. this is about getting people to share with their friends and challenge their friends, stuffed they like and it should be free for everyone. stuart: are you worried you are peaking too early? this is incredible success in a matter of weeks and i reminded of candy crush. they were going to go public. they killed the idea because they thought they peaked and fizzled. how about you? >> you look at examples like that but we are not that concerned. the reception already is for anything you launch you have hopes, optimistic and realistic and the secret fantasy version. when reality passes in the first
few weeks, we are just trying to keep focused and make sure we keep growing. stuart: quiz up comes from iceland. you have 30 employees. did you sit up in those long winter arctic night dreaming get up? is that how you did it? are you trivia buffs yourself? >> most of us. trivia is universal, a global thing. this incredible marketplace that has been created in the mobile space. charles: you didn't have to become fishermen, like was threatened a couple days ago when you reneged on all of those bonds. stuart: we won't ask about that. the capital of the iceland is -- >> reykjavik. pretty good. charles: i have final jeopardy for the last six shows.
stuart: i am the king of trivial pursuit. the best of luck to you. thank you very much. check the big board. charles, good news on retail sales sending the market down, you know what i am going to say. good sales and retail sales means the fed will not print so much in the future. that is why the dow is down. will you contest that? charles: a little bit that we had a horrible number on initial jobless claims up 68,000. the market was up initially, now it is down. it happens periodically. and two weeks later an all-time high. stuart: i call that a waffle on thursday morning. quiz up, still here by the way. during the commercial break, as
all sorts of trivia. charles: u.s. entered question. stuart: what is the capital of mongolia? tell me about lulu lemon, down again. nicole: stock is down 10% so it sold since you last spoke about it. $60.97 a share. you know they will be changing the ceo but this is about sales, traffic going forward and they are saying it will be less than what they thought. we talked about traffic in stores and online, not only lulu lemon but a lot of retailers and one reason is you get quality and reputation. stuart: the trivia king, $100. in 5 seconds tell me the capital of mauritania. 5, 3. >> mauritania.
stuart: you geographic dyslexic. i am shocked to. you didn't know, you invected quiz up and you didn't know that? there goes the idea. epa employee john peel faked his resume, built the agency of $1 million by claiming he was a cia agent on a top-secret assignment, took years off, paid time off. now what has come to like the epa knew he was cheating all along. epa director of gino mccarthy who used to head the department received an e-mail about his pay issues in july of 2010 and he continued to receive a from the agency until february of this year, he has pleaded guilty to stealing from the federal government and will face sentencing later this month and continue to get his government
pension. it is on the screen. hilton started trading. the ideal price is 20, up 6% at $21.20. charles: amazing, july of 2010, the resource officer had a document prepared. the title of the document, john peel pay issues, the general counsel said you have to stop paying these retention bonuses, but a year later, no action was taken on the advice of the head of human-resources though it is confusing why they knew this guy shouldn't be getting this money and kept getting it. stuart: she is now epa administrator. it is a question we asked many times on the marty, internet shopping king what happens to the traditional mall? will they be converted into amazon like distribution centers? one company trying to do that.
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stuart: charles will make us some money with polk brothers. the has visited them before. charles: this morning, reported a good number and the summer was bad for home builders but october was the same, november gained momentum and the same is happening. stuart: it is all over the place. charles: this is not a trade. people can buy and hold and at some point you will make big money. stuart: i like to hear about buy and hold as opposed to bligh today and sell tomorrow. charles: in the last couple weeks i have avoided more volatile stocks. i like longer-term names because we get a bit here and there and that is a canned lager term or much longer the stock will be a gigantic winner. stuart: we hear it, thank you
very much. shopping malls really struggling to reinvent themselves in the age of internet shopping, amazon seems to be taking over. today we learned four of the nation's biggest mall operators are turning their properties into need distribution centers offering same-day delivery services for products bought at the mall or on line from retailers attendance at the mall. the future of the mall with brian david johnson, valued guest on this program. appreciate it. sounds to me like some operators are going to turn their properties and to amazon like distribution centers and that is the wave of the future. >> you have to remember with these small cities not that people don't like shopping anymore but how they shot is changing. how they act and interact is changing and one thing malls have is they are close and can get the goods to people quicker.
you will see not only this year and next year but you will see the business model underneath the malls. they have a lot of space near lot of people. you will see the business model change. stuart: adidas is an example of a company that is adapting to this online model of the future. what i paid doing? >> they are using technology as a way to connect with people. their brand goes across the internet, across the wars, sports events but creating technology in stores so people can act and interact and get more information, a deeper experience with the adidas brand and use technology to do it. stuart: we had some the deal. what into an adidas store, look at the big screen, touch the screen. can you design the shoe, the, the size, the fed, the model. can you do all of that?
>> it is hyper personalization. the internet can hyperpersonalize for me specifically or you specifically, that is one of the wonderful things this technology allows is to interact with it but use distribution centers to get to you in the same day. stuart: i could do that in my own home, touch the screen, designed the thing in my own home and have it shipped to me. i don't have to go to the brick and mortar. >> one thing you can't forget about shopping is shopping his social. sometimes it is not social. sometimes mission shopping, you want to design your shoe and be done, sometimes you use shopping and entertainment, sometimes people like going and talking to people in stores and people should have all of that. it should be about choice. always bet on choice because it
will win. stuart: men by what they want and leave, women may brawls, maybe by and do a lot of socializing. you want to add anything to that whatsoever? >> people are more complicated than that. we are seeing different behavior is all over the world, shopping centers are always places for people to get together and the social and people will just want to go and get things done but people need that police, that platform as a place to be social. stuart: when you are right, brian david johnson, thank you very much for joining us. we are down 88 points. i say it is because of strong retail sales in november which means the federal reserve might parental less starting fairly soon. charles disagrees not entirely. charles: some are buying and selling. stuart: the guys doing the index
fund managers, these guys are buying and selling on whether the fed prints more or less, individual stocks. charles: you need traditional managers. stuart: after the break a company that makes easier for you to spend your money on line. we will explain it all after this. so ally bank has a raise your rate cd
stuart: the lightning round. come on in sandra smith. major-league baseball votes to eliminate home plate collisions as you see on your screen. adam: we have seen changes the football and baseball. protect the kids but the professionals we should have more fun watching. the collisions should take place. stuart: thank you very much. the latest debt from special k cereal telling women to stop talking about how fat they are.
are they being hypocritical? since special k promote slimming down? >> i actually agree with this one. people need to stop overthinking things, eat healthy, run or walk every day, let's stop looking at ourselves in the mirror and asking our husbands. stuart: that will never happen. that will never happen. number 3. super models making headlines with this photo, of total of breast-feeding while prepping for a photo shoot, this three years after she said, quote, there should be a worldwide law that mothers should breast feed their babies for six months. you can walk away from this one if you wish for comment if you wish. adam: it is a beautiful image that sends a strong message that
breast-feeding is important, and every woman multitasking and a lot of breast-feeding mothers sitting at home i say now i am breast-feeding but not getting pampered head to toe while i'd do it. might be a stretch. stuart: if you are in chicago you make a lot of sense. sandra smith. good stuff. moments ago we discussed the future of the shopping mall. here is the future of online shopping. let's say you see a watch in of those that is on line. tap or click watch on the screen and kiosk takes you directly to purchase what you clicked on. maybe this is the future and the ceo is here. from scandinavia, finland. what is it with you people? you set up there in the dark of winter and invent these things?
we just had a guy from reykjavik. >> nine month we couldn't do anything else. stuart: very sorry. let's suppose i am at home, on line, watching a music video and i see a watch on somebody's wrist, take my little quicker, click on it, you kiosk takes me directly to the web site to buy this thing. >> the problem being today people just go to shops, amazon, everywhere. actually the technology enables you to shop when you see something you want to. stuart: almost any product that i happen to see online? >> anything you broadcast, games as well. stuart: it has to be identifiable. coming to this please.
charles: i wonder how one works on the back. i will like and want to buy it. how do you do this transaction? sounds like the obama team could use you in the states. i am not trying to -- it sounds amazingly like you combine it. how do you work the back end. to facilitate the payment? >> we do that in the content itself. we do everything -- it is complete -- stuart: i click, you sell it to me, complete the transaction, the whole ball of wax. held as the company? >> three years. stuart: when you are one of the co-founders? how many employees? >> 75. stuart: any idea gross revenue? >> karen an annual rate between 10 and $50 million. broad range. >> i am saying this is an extreme explosion market. everything becoming visual and shopan end. very difficult to say it when it
will end the game. stuart: you make money by taking a piece of each transaction? >> we do that. stuart: kiosked. i you living in america? >> no. my coupons lives in el ended is happening. you know where the name comes from? it is actually from swahili. it means a shop near you. the same all over the world. stuart: you realize i speak a little swahili and i never heard that word. >> check the computer, that is where it comes from. stuart: [speaking swahili] great pleasure, thanks for joining us. you heard my take last hour. get ready for a taxpayer funded health insurance industry bailout all because of obamacare. live to capitol hill after this. >> people have been told their
health plan doesn't necessarily match the aca compliant plans, they are not in a grandfathered plant and a number of individuals have reenlisted and enrolled in plans so losing coverage and being notified the plan they have doesn't exist anymore are two different things. [ bagpipes and drums playing over ] [ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you open an account.
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buy, it is up 3.5%. a couple of downgrades on oracle, down it goes 3%. the latest numbers are in just over 364,000 people signed up for health care plan under obamacare. no information release on how many people actually paid for it, no information on how many young people have signed up. insurers were promised millions under obamacare. they are not getting them. here comes the bailout. here with more. the blue dog democrat, have i got that right? >> you have got it right, happy holiday to you. stuart: do you support and insurance industry bailout? you know it is coming.
>> it is not a bailout, just between a way to minimize risk. for example the farm bill, congress has that. stuart: you know what i'm talking about. we will pay the insurance companies $1,075,000,000,000 of taxpayer money over the next 10 years, and now we will pay them billions more. you can call it a bailout, but we're going to pay them billions more. this is going to be very, very unpopular. do you still support it? >> again, if you're calling the risk provision in the law, it is not federal dollars. if a company has individuals they cover the 3% rule, they transfer that over to people that are little bit not as healthy as them so they plan for minimization of risk, do i
support bailouts? no, i don't want to see that, but again this is something that is a risk minimization provision in the law. stuart: center marco rubio says get rid of it, he does not want any more money going to the insurance companies. he has a bill that has been introduced, would you support that bill to kill further payments insurance companies? more to the point, sir, are you going to your electorate in south texas next november, are you going to go to them and say yeah, i support the it, give the insurance companies more money. do you support it? >> using your statement, the answer is no. but looking at the law, it is not a bailout. i think republicans and democrats have been wrong, they want to repeal the whole thing, democrats don't want to change one single word. i will be the first one to say
keep the good things that make changes or repeal modifications on the areas of the law we need to change. that is why the process could work. stuart: do you think there is much sentiment within the party and president obama for any changes at all? i don't think there is. what do you think? >> i think we have to make those changes. i was all due respects to the president, he has made some changes i think the congress should have made those changes, but working in a bipartisan way talking about this right before the holidays, we should get together, keep the good things and modify the things that are not working. stuart: i think it will happen, modification very soon. it is always a pleasure to have you on the soon, thank you. >> thank you, thank you. stuart: dan henegar, one of the sharpest critics of president obama, he is with the "wall street journal." this time he is setting his sights on bill de blasio in
new york city. was he listening to my take yesterday? the teachers unions are a mainstay of the democratic party in lockstep with president obama, but the times are changing and the left begins to fade, the unions realize they are out in the cold, so the amount a very noisy campaign to reclaim the promise of public education. good luck with that. [kevin] paul and i have been friends...
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stuart: instagram announcing a new service to compete with the popular app snapped chat. instagram direct, allowing users instantly share photos and videos with friends and allow them to disintegrate within moments of receiving them. it will be added in the future. the stock taking up on the news the stock is up 3.5%. 51. home depot announced it will start offering same-day deliveries. it will spend $300 million to operate warehouses. the stock is down. this is a play to go after amazon, king of online shopping. announcing a deal with cbs to carry its show "under the dome" on the amazon prime service. down a fraction this morning. watch out. dan hettinger is next. as a business owner, i'm constantly putting out fires.
with amazing rewards. with the spark cascard from capital one, i get 2% cash back on ery purchase, every day. i break my back around here. finally soone's recognizing me with unlimited rewards! meetings start at 11, cindy. [ male announcer get the spark business card from capital one. choose 2% cash back or double miles on every purchase, every d. what's in your wallet? i need your timesheets, larry! stuart: hilton, hotel company, started trading today. it was an ipo. the stock, i believe, is moving higher. is that right, nicole? nicole: nice demand for the ipo today. up about 8.5% at 21.69. off of the earlier highs of the day but still be received very nicely. stuart: we are not comparing
this in any way to paris hilton in any way, shape or form. are you buying it? charles: i am not buying it. stuart: why? charles: it was not a hot stock when it was taken over. stuart: a muted ipo debut. charles: i don't see a big pop. stuart: i don't see the enthusiasm. charles: not for hilton. stuart: new york city has 183 charter schools, located in the poorest neighborhoods. the parents believe charter schools open up opportunities. give them a path to something better. new york city mayor elect bill de blasio very critical of charter schools. parents are worried he will pull the plug on these schools. the "wall street journal" dan henegar is with us. is he going to pull the plug, is that what he is going to do? >> he wants to stop the growth of charter schools and he also
has said he would like to charge some of them rent for occupying space inside public school buildings. but if they charge them rent, that would be hammering their budget and probably over time the president of the schools in new york would you wrote. stuart: how big of an opinion, how big of a part of opinion does bill de blasio and anti-charter school represent? >> that is an excellent question. within active democrats within the democratic party and within people in new york, citizens regard themselves as democrats, which are most of the city. the teachers union and made federation of teachers would like to have most of these charter schools ended may and the because i want the 5000 teachers in them in the union paying dues again. the more popular they become, the fewer unionized teachers there are. the active left her campaign to
elect people like bill de blasio also wants to suppress the charter school, they want the charter school ended. there are children in the poorest neighborhoods in new york in the schools. this is the sort of thing liberal democrats should be in favor of, so if bill de blasio moves against these schools, i think you will see a real tension emergent side democratic politics in new york. stuart: charles, you know something about this. charles: i was involved with a south bronx classic charter school. the poorest district in america, they are from africa yesterday. i have to tell you something, the lottery system coming auditorium system is filled up. it is a godsend for these neighborhoods. it always wrapped my mind why these people would vote bill de blasio in. who would be their voice if they
get their way? if they shut these things down, who is going to speak up for these people? >> during the campaign you had a march across brooklyn bridge opposed to the idea of bill de blasio. 20,000 parents and children, and extraordinary thing to see. if they move against these schools, you will see more margins two marches like that. some real civil disobedience taking place, and he will try to have to push against what charles just described. stuart: how big of an influence does the teachers union, the two of them, help egg of a push to they have in the party? it used to reign supreme. are they moving backwards in terms of influence or what? >> they're moving backwards in terms of membership, and that is a big problem for them because they drive their political power almost solely from the political dues they get from headquarters. but they are still a primary
presence inside the democratic party, they provide money and they provide for shoulder foot . stuart: i would looking at a tragedy of those decent kids receiving education? will they shut them down, really? >> it remains to be seen. bill de blasio has to step back and say is this something he wants to bite off? this could do damage in new york city. charles: i am glad you wrote this, it will be talked about more and more particularly in the local area. it is crazy. stuart: dan henninger, sharp edge guy, appreciate you being here with us. switching topics, an a news alet for you. remember the 52-carat diamond we had on the show last week, tuesday it sold for almost $11 million, that is the king of all diamonds. i was at the auction, fascinated. that is not all from christie's.
two of them, we're talking serious antiquity hitting the auction block. it is a question of how old they are. 5000 years old. ♪ [ male announcer ] what if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technolo instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade.
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stuart: i am going to call this the million dollars menagerie. you will not believe the price takes on this one. max is here with statistics. welcome to the program. first of all the very oldest of all, this is a feline sculpture, correct? >> yes. stuart: 5000 years old. is it ancient egyptian? >> we don't know exactly where it is from, but iraq, syria, possibly all the way to afghanistan. they were made and all those regions and they travel in antiquities. even though it would be made in one, could have traveled to another. stuart: this survived 5000 years.
what is incredible to me is it only going for hundreds of thousands of dollars. >> we estimated 600-$800,000. stuart: is incredible. 5000 year old piece of work doesn't fetch a million dollars, you want to explain that. >> most collectors today like things that are recognizable. andy warhol, with these kind of things they have to know what they are doing. stuart: there is a hippo that is 4000 years old, newcomer. where is it from? >> this is from egypt. put in a tomb and ritually killed. the hippo in egypt was feared
and revered. it killed people, ruin your crops. so by killing the hippo ritually, you would be protected in the next life. 400-$600,000. stuart: again, it is extraordinary. how many works of art are there that are 4000, 5000 years old in which very wealthy people can buy? i am talking it up for you, max, it is not working. >> i appreciate it. we have sales four times per year, so it is out there, it is available. stuart: when are you selling it? >> tomorrow. stuart: the hammer will come down. i hope it comes down at a million plus, i really do. thank you. >> my pleasure. stuart: major league baseball banning home plate collisions, one of the most exciting place in baseball. your take on that is next.
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stuart: on facebook and twitter, we asked you what you thought about major league baseball banning home plate collisions. here's what you had to say. rob said why don't we make it to both nobody ever gets hit by a pitch, declare everybody a winner before each game so nobody gets their self-esteem hurt. i love that one. michael says more wussification in sports. soon pictures will not be able to throw faster than 90 miles per hour. i understand players wants to protect themselves, but they are being paid millions for our amusement. you have got 10 seconds, charles. charles: i think senator smith said it best along with our viewers. it is the wussification of sports and society in general. stuart: well said, charles.
connell, it is yours. connell: a new budget deal in congress, you would think could not get any worse. monica crowley will be here to weigh in on that. the government taking a hard look at using phones on planes bill de blasio majority of americans now say they don't want their neighbors chatting in the seat next to them. and we have a high-tech development to tell you about for warfare, lasers are becoming more reality for the armed services. and with foreclosures hitting seven-year lows, our friend from agency will tell us about the hottest housing market in the market. plus, dagen mcdowell coming up in this hour of "markets now." all right. dagen: please don't let people talk on their tw to phones on te airplane